Navigator Holdings secured a USD 121.8 million senior secured term loan to fund two ammonia-fuelled newbuild carriers in its Navigator Amon joint venture.
The facility finances up to 70% of vessel costs at delivery; remaining payments will be funded from joint-venture shareholder cash resources.
The two 51,350-cubic-metre liquefied ammonia carriers are also capable of carrying LPG and are under construction in China, with deliveries expected in May 2028 and September 2028.
The loan has a six-year post-delivery tenor and bears interest at SOFR + 1.35% with quarterly payments.
The facility is secured by mortgages over the newbuild vessels, and borrower obligations are guaranteed by Navigator Gas and Navigator Amon Shipping.
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